SIG University’s Certified Third Party Risk Management Professional (C3PRMP) program is a globally recognized certification that is the “gold standard” in terms of relevance, scope and content. The C3PRMP program was created by Linda Tuck Chapman, an advisor, educator, author and expert, and is based on her experience and her book, Third Party Risk Management: Driving Enterprise Value (published by the Risk Management Association). You’ll soon learn that investing in the C3PRMP designation is an investment that will enhance your knowledge base and deepen your expertise.
Outlined here is information about the upcoming changes and benefits of your C3PRMP designation, as well as a profile of our students.
What is different about SIG University’s C3PRMP program in 2020?
In January, the duration of SIG University's C3PRMP program was extended from eight weeks to 10 weeks. Multiple-choice review questions at the end of each module will test all students’ knowledge and require a minimum passing score of 80%.
Members of the Global Association of Risk Professionals (GARP) will continue to earn 20 Continuing Professional Development (CPD) credits, GARP’s highest award for a continuing professional development program.
For CPAs and equivalent designations worldwide, graduates will earn 66 Continuing Professional Education (CPE) credits from NASBA, the highest number of CPE credits ever awarded by NASBA for a continuing professional education program. The credits will be awarded starting with the April semester.
By extending the program from eight to 10 weeks, CPE-eligible students will have a full week to complete the final exam. Students not seeking to earn CPE credits may choose to use the extension to review learning materials, write their essay or get caught up.
All successful graduates will become Certified Third Party Risk Management Professionals and earn a SIG University issued certification and digital badge.
Are there any special requirements to earn the CPD credits (GARP)?
No, in July 2019 GARP accredited the C3PRMP program, whereby members of GARP successfully achieving a C3PRMP certification are immediately eligible for 20 CPD credits. There are no changes to eligibility for members of GARP when program changes take effect in January 2020.
Are there any special requirements for CPAs and equivalents to earn the CPE credits (NASBA)?
Yes, students must achieve a minimum of 80% on the multiple-choice review questions at the end of each module and earn a minimum passing grade of 70% on the midterm and final exam. The midterm and final exam test comprehension of materials covered by the multiple-choice review questions presented over the weeks leading up to each exam. Students seeking CPE credits are exempt from submitting an essay that is required of all other students
How will the exams for CPE credits be administered?
The exams for CPE credits are multiple choice and administered in the learning platform. The multiple-choice review questions are carefully designed to test comprehension of materials. No trick questions!
According to NASBA requirements, students are notified of their grade immediately following completion of each exam. We recommend closely studying the review questions leading up to the midterm and final exams, which explain the correct and incorrect responses to reinforce learning and prepare students to retake the exam. The midterm and final exams can be retaken without penalty.
What if my field doesn’t require CPE or CPD credits – is this certification still relevant for me?
Yes! The C3PRMP certification is recognized as the global “gold standard” for third party risk management designations, and there is a lot to learn. Even if your professional association or accrediting body doesn’t require continuing professional development or education credits, the C3PRMP certification deepens your knowledge base, sharpens your skills, and develops your competencies in operational and third-party risk management.
The C3PRMP certification also demonstrates that you and your company are serious about managing third party risk. If your organization is subject to regulatory exams, the certification signals that the company is serious about third party risk management. Certified training is a risk management control and a C3PRMP designation is concrete evidence that senior leaders have the requisite commitment and knowledge.
How long will my certification be valid?
The C3PRMP certification is valid for three years, then you must recertify.
How can my credits be applied?
Your credits can be applied toward mandatory and discretionary continuing professional education, established by your certifying body. Students successfully completing the program are eligible for all of the following:
- SIG University C3PRMP: Certification and a digital badge
- GARP: 20 CPD credits
- NASBA: 66 CPE credits
Are there any prerequisites required to enroll in C3PRMP program, or can anyone enroll?
There are no prerequisite courses required to enroll in C3PRMP, however, those enrolling in one of our programs must meet at least one of the following qualifications:
- Bachelor’s degree
- 3 years of management experience
- 5+ years of general business experience
How much does a risk professional make in the United States?
Salaries vary by location, but according to Indeed, below are some average salaries of risk professionals. A risk certification can help your resume stand out from the crowd.
- Risk Analyst -- $76,246
- Risk Manager – $82,769
- Anti-Money Laundering Manager -- $116,047
- Senior Risk Manager -- $126,406
What positions or job titles would most benefit from enrolling in this program?
Third-party risk is one of the hottest areas in risk management. It touches on all areas of operational risk – cyber, business resilience, financial, technology and reputational risk, to name a few.
Anyone who is serious about investing in their team and themselves or expanding their career choices benefits from the C3PRMP certification and learning with other committed professionals from around the world.
Here are some examples of the professionals that have earned a C3PRMP certification from SIG University.
- Anti-Bribery/Anti-Corruption Professionals (ABAC)
- Anti-Money Laundering Professionals (AML)
- Auditors (internal/external)
- Business Continuity Management/Planning Professionals (BCM/BCP)
- Business Intelligence Managers (BI)
- Certified Supply Chain Professional
- Certified Sourcing Professional (CSP)
- Certified Public Accountants (CPA)
- Chief Information Security Officers (CISO)
- Compliance/Legal Professionals
- Management Consultants
- Finance Professionals
- Financial Crimes Professionals
- Financial Risk Managers (FRM)
- Information Security Risk Analysts
- Information Security Risk Analysts
- Masters of Business Administration Students/Grads (MBA)
- Operational Risk Management Professionals
- Enterprise Risk Management Professionals
- Procurement Professionals
- Purchasing Professionals
- Vendor Relationship Management Professionals
- PII/NPPI Risk Analysts
- Sourcing Professionals
- Supplier Risk Managers
- Third Party Risk Professionals
- Vendor Risk Management Professionals
- Vendor Relationship Managers (VRM)
Join the growing ranks of Certified Third Party Risk Management Professionals today. Visit our website for more information or to get in touch with an educational advisor.
Stacy Mendoza is a Senior Marketing Manager with Sourcing Industry Group (SIG). She began her career as an editor for a Washington, D.C.-based market research firm where she worked on projects for political campaigns, nonprofits, and major corporations and brands. Since 2014, she has assumed progressive levels of responsibility in leading marketing and public relations campaigns and specializes in content creation, social media marketing, data analytics, media relations and crisis communications. Stacy holds a Bachelor of Arts degree in English from The Florida State University in Tallahassee, Florida, a certificate in proposal writing from The Graduate School in Washington, D.C., and is Inbound Certified through Hubspot Academy. Follow her on Twitter and tweet at @SIG_Stacy.